ClearBank has teamed up with PingPong to enhance the latter’s UK presence via virtual business accounts, GBP collections, and Confirmation of Payee (CoP) functionality.

Utilizing ClearBank’s Solutions

PingPong will leverage ClearBank’s local agency banking solution to improve its services in the UK. The cloud-based technology from ClearBank allows PingPong to issue virtual accounts and IBANs under its own brand, while providing real-time access to UK payment schemes such as Faster Payments, BACS, and CHAPS.

Expanding Global Commerce

This partnership is part of both companies’ strategic plans for international growth. Selecting ClearBank highlights PingPong’s ambition to become a leading provider in the local payment capabilities area, particularly within the UK and Europe. As an international market focus, ClearBank supports fintechs aiming to expand their operations.

PingPong intends to use this collaboration to enhance its comprehensive service offerings for enterprise clients, providing direct access to FPS, BACS, and CHAPS without the need for intermediary banks. This setup facilitates more efficient cross-border transactions and ensures richer data transmission, optimized system interoperability, and better transaction flow control.

Broader Integration

In addition to its partnership with PingPong, ClearBank has also been integrated by Orbital to support Euro-denominated payment infrastructure. This initiative enables Orbital’s cross-border payment platform to provide direct access to SEPA Instant Credit Transfers and real-time EUR clearing, all while adhering to AML and KYC compliance.